The Evers & Co. June 2017 Real Estate Report

The dollar volume of sales in June was up 3.5%, average price was up 2%, and “days on the market” was down 15% in the close-in Metro area over last year at this time, with the exception of Alexandria. This is the result of a short supply of housing for sale and high demand, a situation which has persisted for the past several years.

The outlier, Alexandria, had a 35% increase in dollar volume of sales and a 19% increase in average price. This discrepancy needs to be noted, since Alexandria is a small area population-wise compared to the whole study area and in this case, its numbers were pushed up by a small number of big sales over a short time period.

Overall we are continuing to see the steady pressure on price that is due to high demand and low supply, with no change in sight for these market conditions.

* Statistics are taken from the Metropolitan Regional Information System for three areas: Washington, D.C.; Montgomery County, Maryland; and Fairfax County, Arlington and Alexandria in Virginia.